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There is no doubt that McGahee has been a solid role player since joining the Ravens, but when the trade was made the Ravens saw him as a consistent starter and reliable 1,000+ yard rusher. This never came to fruition, as McGahee has been limited by injuries in his time in Baltimore.
Considering Mcgahee has rushed for 1,200 yards or more twice, it's more than a little disappointing to see him get 380 yards in 2010.
Sure, the Ravens only gave up their third and seventh round picks in 2007 (one turned into Trent Edwards, the Bills' No. 1 QB for a couple years, the other they used on C.J, Ah You, who was released by the Bills after the 2007 pre-season) and a third round pick in 2008 (which they traded away) but considering the numbers that McGahee has put up, Baltimore should have been able to get more.
Otherwise, Baltimore has been pretty solid on the trade front. With Ray Rice as the undisputed starter at running back, McGahee is likely on his way out this off-season.